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AUSTIN, Texas--(BUSINESS WIRE)--
Silicon
Labs (Nasdaq: SLAB), a leader in high-performance, analog-intensive,
mixed-signal integrated circuits (ICs), today announced that the
company’s CFO, Paul Walsh, is leaving Silicon Labs for another
opportunity outside of the semiconductor industry. Silicon Labs’ former
CFO and current board member, Bill Bock, will be returning to the
management team as the interim CFO.

Mr. Bock will be leading a strong and proven global finance organization
that has been built over the last decade to support the expansion of the
business. The CFO transition is not expected to result in any changes to
Silicon Labs’ financial philosophy or the target financial model. The
company is also confident in its near-term prospects and reiterated
guidance for the current quarter.

“I want to thank Paul for his many contributions to Silicon Labs. I’ve
enjoyed working with him, and we all wish him well in the next phase of
his career,” said Tyson Tuttle, president and chief executive officer of
Silicon Labs. “I am confident that Bill’s history with Silicon Labs will
enable a seamless transition. Bill has been a tremendous asset to the
company, and I look forward to working closely with him in our efforts
to build a high-growth, broad-based business.”

Mr. Bock joined Silicon Labs’ board of directors in 2000 and then left
the board when he was appointed CFO in 2006. He retired from Silicon
Labs’ management team in 2011 and was invited to rejoin the board at
that time. In addition to his familiarity with Silicon Labs’ products,
strategy and mixed-signal history, Mr. Bock brings more than 30 years of
experience spanning finance, operations and sales. Mr. Bock currently
serves on a number of public and private company boards of directors
including Entropic Communications. He served as president and chief
executive officer of DAZEL Corporation, a provider of electronic
information delivery systems. After DAZEL’s acquisition by HP, Mr. Bock
served as vice president for HP until 2001. Prior to DAZEL, Mr. Bock
served as executive vice president and chief operating officer of Tivoli
Systems, a client server software company, which he helped to take
public in 1995 before its acquisition by IBM in 1996. Prior to joining
Tivoli, Mr. Bock successfully completed an IPO at Convex Computer
Corporation as CFO in 1986 and then became senior vice president of
sales in 1991. Mr. Bock also spent nine years in various finance roles
at Texas Instruments including vice president and controller of TI’s
data systems group.

Mr. Bock holds a bachelor’s degree in Computer Science from Iowa State
University and a master’s degree in Industrial Administration from
Carnegie Mellon University.

Silicon Labs

Silicon Labs is an industry leader in the innovation of
high-performance, analog-intensive, mixed-signal ICs. Developed by a
world-class engineering team with unsurpassed expertise in mixed-signal
design, Silicon Labs’ diverse portfolio of patented semiconductor
solutions offers customers significant advantages in performance, size
and power consumption. For more information about Silicon Labs, please
visit www.silabs.com.

Cautionary Language

This press release contains forward-looking statements based on Silicon
Labs’ current expectations. The words “believe,” “estimate,” “expect,”
“intend,” “anticipate,” “plan,” “project,” “will” and similar phrases as
they relate to Silicon Laboratories are intended to identify such
forward-looking statements. These forward-looking statements reflect the
current views and assumptions of Silicon Labs and are subject to various
risks and uncertainties that could cause actual results to differ
materially from expectations. Among the factors that could cause actual
results to differ materially from those in the forward-looking
statements are the following: risks that Silicon Labs may not be able to
maintain its historical growth; quarterly fluctuations in revenues and
operating results; volatile stock price; average selling prices of
products may decrease significantly and rapidly; difficulties developing
new products that achieve market acceptance; dependence on a limited
number of products and customers; intellectual property litigation
risks; inventory-related risks; risks associated with acquisitions;
difficulties managing international activities; difficulties managing
our manufacturers and subcontractors; risks that Silicon Labs may not be
able to manage strains associated with its growth; credit risks
associated with our accounts receivable; dependence on key personnel;
risks associated with divestitures; geographic concentration of
manufacturers, assemblers, test service providers and customers in Asia
that subjects Silicon Labs’ business and results of operations to risks
of natural disasters, epidemics, war and political unrest; the
competitive and cyclical nature of the semiconductor industry and other
factors that are detailed in Silicon Labs’ filings with the SEC. Silicon
Labs disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.

Note to editors: Silicon Laboratories, Silicon Labs and the Silicon
Labs logo are trademarks of Silicon Laboratories Inc. All other product
names noted herein may be trademarks of their respective holders.

Silicon LabsShannon Pleasant, 512-464 9254shannon.pleasant@silabs.com

Source: Silicon Labs

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About

Silicon Laboratories Inc., a fabless semiconductor company, designs, develops, and markets analog-intensive and mixed-signal integrated circuits (ICs). The company offers broad-based products, which include microcontrollers, clocks and oscillators, wireless transceivers, digital isolators and related products, and human interface sensors and controllers; broadcast products comprising radio receivers and transmitters, and video tuners and demodulators; and access products consisting of embedded modems, subscriber line interface circuits, Voice over IP (VoIP) products, and power over Ethernet devices, as well as DSL analog front end ICs and IRDA devices. It provides ICs for use in various electronic applications, such as portable devices, AM/FM radios, and other consumer electronics, as well as networking, test and measurement, industrial monitoring and control, and customer premises equipment. The company markets its products through direct sales force, and through a network of independent sales representatives and distributors in the United States, Taiwan, China, South Korea, Japan, and internationally. Silicon Laboratories Inc. was founded in 1996 and is headquartered in Austin, Texas.